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Search Results 0 to 49 of about 131 (some duplicates have been removed)
, and everything, they give big tax breaks for the oil companies. the big manufacturers. they're taking jobs away from us. and why they think it is best to do that. i need an answer to that, because i work 40 years of my life, and now i'm disabled. and now they're talking about cutting everything. i just don't think -- i've even put my life on the line for this country, vietnam. why they think it's the right thing to do. host: thanks for your call. next up, a comment from hewitt, texas. tony, a republican there. good morning. caller: good morning. how's everybody there this morning? host: it's a little hot both temperature-wise and internally i think here. caller: yeah. you know, we deal with a few facts here this morning. that cut, cap and balance that was passed did two things that everybody just is totally bent out of shape about. one of which is that it would raise the debt ceiling, and we would give that community organizer everything he wanted. it also, at the time, would say that the united states would even have a downgrade in its debt rating. and what do we do? well, you got the presiden
will be here on set with us. >> this is big. >> huge. >> willie, who is going to be number one? are we looking at oklahoma? alabama? >> could be a tie situation. i have to say. we should point out vanderbilt got a great recruiting class. >> they did have a great recruiting class. >> they did. >> my understanding is the average s.a.t. just above 1300. unprecedented. for a co--ed football team. [ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the jetta, awarded a top safety pick by the iihs. that's the power of german engineering. hurry in and lease the jetta s for just $179 a month. ♪ visit vwdealer.com today. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000
it could be a big day for our whole entire country. >> and the news is whether we've got a deal or not. shortly after ten o'clock last night. harry reid said you know, i was going to have everybody show up in the mid feel the night and take a vote at 1 a.m. and he received word from the white house that apparently, the white house and this really hacks him off, you know, because it kind of bypasses him, and former speaker pelosi, dealing directly with mitch mcconnell, joe biden 6789 it sounds like they've got a deal, and close to a deal and some of of the frame work as well to talk about it. >> yeah, it looks like it's been going back and forth and take a look, it looks like debt ceiling increase, 1.2 trillion to 2.4 last night last through the night and living in my office, as high as 2.8 trillion dollars in debt ceiling increases, spending cuts have to be about the same amount commensurate. >> dollar for dollar. >> at least if not more. >> and guys, there's a little bit of wrangling whether or not that balanced budget amendment that john boehner needed so badly to get the house to vo
information is stored and, jon, you know with the tsa and all those scanners, that was big concern of people and also for some of the privacy advocates. jon? jon: yeah. and some of our chatters are wondering when this is going to hit the consumer market, you know, can i buy one of these things and scan anybody i want to? >> reporter: you know what, interesting? facebook is looking at it and google, also, to allow you to take a picture of someone and do an immediate google search to get any other information on them. so your chatters are up to speed, jon. jon: that is a brave new world. jamie colby, thank you. >> reporter: take care. jenna: breaking news of the day, and we have more big stories throughout the hour including a big rule anything the case of the former police sergeant who keeps losing wyomings. what -- wives. the case of drew peterson and how it could impact his murder trial. >>> also house speaker john boehner reworking his debt deal. this as the clock ticks closer to that default deadline. six days away, can a deal be struck in time? we'll go in depth just ahead.   you c
between himself and michele bachmann. >> big difference between talking and getting stuff done. and i get stuff done. >> it's the latest chantner the rivalry of the two minnesota candidates for the republican presidential nomination, which boiled over yesterday, with pawlenty having spent almost two weeks saying bachmann has no congressional accomplishments to speak of, bachmann had enough. in a sunday statement, she fired back saying "i've fought against irresponsible spending while governor pawlenty was leading a multimillion dollar budget mess in minnesota." later the bachmann campaign added on healthcare mandates, climate change and wall street bail-outs there's very little daylight between governor pawlenty's record and the obama administration's." this back and forth comes with pawlenty still trailing bachmann in the polls. for bachmann, the verbal sparring seems to come with at least some risk. it will likely draw even more attention to the iowa straw poll, less than three weeks away, and pawlenty seems to have the advantage of a larger, deeper iowa organization. the straw poll bal
is it shows that the united states system is not set up to do big things. when a crisis like this comes up they cannot do a deal that would show stability to the world. >> ronald reagan and tip o'neal made big deals. in the 1990s, bill clinton and the republican congress made big deals. and mika, it's not over yet, but it has gotten to the point already that this is damaging the reputation of the united states the longer it goes, and i think we're talking about it damaging our reputation more every day that the crisis goes on. >> i think both sides would agree with that. after a weekend of meetings resulting in yet another impasse, president obama is canceling two fundraisers today to continue negotiations. senate majority leader harry reid said the talks broke down last night because of the republicans insistence on a short-term deal, and their plan would cut $2.7 trillion over the next ten years. officials say it raises the debt ceiling but no tax increases. and he salaid out his latest solution. >> there will be a two-stage possible. it's not physically possible to do this in one step.
was ready to try again to do something big to control the debt. the ensuing days, the two sides forged common ground on the strategy raising the debt limit and cutting more than $4 trillion out of the federal budget that would take place through 2021. the speaker put out a statement in connection with the comments he made to the press yesterday. here is a bit of it for you. he said: in the end, he writes, we couldn't connect. not because of different importants, but different visions for our country. the president is emphatic taxes have to be raised. i know that tax increases destroy jobs. the next page, mr. boehner goes on to say, the president is adamant we can't make changes to entitlement program. i know the programs won't be there for my daughter's generation unless significant action is taken now. i have decided to end conversations with the white house and begin conversations with the leaders in the senate in an effort to find a path forward. again, the leaders are going to the white house today to meet with the president. the minority leader also putting out a statement becaus
a big difference to a lot of people. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: the debt ceiling deadlock in washington led to increasingly urgent appeals for action today. but even as talks resumed, white house officials warned not to expect a hallelujah moment. fresh alarms sounded on wall street and around the world today about the consequences of a potential u.s. government default. standard & poors joined moody's in warning the country's credit rating could be downgraded, if the government tries to pay just the interest on its debt. and china said it hopes the u.s. adopts responsible policies. the chinese hold more than $1 trillion in u.s. debt, more than any other foreign creditor. at a senate hearing, federal reserve chairman ben bernanke-- t
to that. what i was thinking about today, in one sense, no. it doesn't matter which plan. a big investor think both plans are really band-aid plans and none of them deal significantly with what i like to call the big three. medicare, medicaid and social security. in the short material, either deal will probably be enough. really interesting this afternoon, when i was talking to an investor who had met with the ratings agency at standard & poors talking about the downgrade. could it raise interest rates the same way a potential default could. they said the boehner plan probably wouldn't hit the hurried tol prevent a downgrade. even if that was reached, you could still get a downgrade. it is unsure whether that would happen. the reid plan, even though a lot of the parts of that are seen by many as gimmicks, probably would pass that hurdle and you wouldn't get that immediate downgrade. that's an interesting distinction. >> stand by for a moment. i want to bring back kate and jessica. there is a harry reid plan and a john boehner plan. given the stakes involved, why not have these two gentle
been going on now since the big deal talks between boehner and obama broke down on friday among all the congressional leaders on how to fix basically one problem. that is, how long the debt limit increase we will do. they have not been able to resolve that problem. host: do you think there's a chance the house really will leave town? guest: i do not know. no one would confirm that. there were rumors yesterday, mainly from democrats. republicans said they had heard nothing like that. democrats also said they would be surprised if the house would do that. it will look terrible with this crisis hanging over the nation. crisis hanging over the nation. it has happened in on other occasions. host: lori montgomery, according to the senate schedule, harry reid will be announcing the schedule at 11:00 a.m. have you heard anything? guest: i have not. when i left last night, it was not clear. they were still planning to proceed as they have been talking about for a week. that is, when the house bill comes over, they want to tilt it -- to kill it. it's not clear how they will do that. will they
, the social security benefits drop 22%. that's a big hit for folks that are living on social security. so what can we do today, 25 years in advance, what small thing can we do today to social security which will build up the solvency and life of social security for even more years? that's a -- i think that's an honest challenge and we should view it as an honest challenge. not to eliminate social security but to say to the generation of younger workers in america, it's going to be there and you'll be darn lucky that it is there because a lot of seniors today can tell you the story of their lives paying into social security. they now receive the benefits. but what happened to their other plans for retirement? well, that little 401(k), that ira, that s.e.p. plan took a hit a few years ago, lost about 30% of its value. and for many americans with pension plans where their work, some of those companies went out of business and walked away from those pension obligations. social security has been there. we want it to be there in the future. so we can find ways to strengthen social security and give
the state of pennsylvania has come in and said defaulting on the debt is not that big a deal. it can be, quote in his words, easily managed. does the senator from arizona agree with that thinking? mr. mccain: as the senator may know, i came to the floor a couple of days ago and made that comment, and the senator from illinois and i are in agreement, point number one. you can prioritize -- i think the senator and every economist i know literally would agree. you can prioritize for awhile where you want what remaining money is left. but the message you send to the world, not just our markets but to the world, that the united states of america is going to default on its debts is a totally unacceptable scenario and beneath a great nation. we are in agreement, number one. mr. durbin: amen. mr. mccain: number two is that to insist, to insist that any agreement is based on the passage through the united states senate of a balanced budget amendment to the constitution of the united states, as i said before, is not fair to the american people because, because the terrible obstructionists on this
procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it and i object to it and i expect an appropriate amount of time to consider whatever plan comes >> with titles like "slander," and coulter has something to say. now, your chance to talk to the best-selling author. in death, for three hours starting at noon on both tv. >> the former u.s. comptroller general david walker of the nation pose a growing debt and budget deficit challenges. from "washington journal,", this is 30 minutes. the former u.s. comptroller general and now founder and ceo of the comeback american initiative, david walker print a good morning. forve said it is a bad idea the congress and president to flirt, so to speak, with the august 2nd deadline of hitting a possible debt default. what do you think is going on right now and are concerned there is not a deal in place yet? guest: i am concerned. if everybody is true to their
saying, only a long-term option here? >> the president believes that we have to think big and act big, because as i mentioned before, there have been events and decisions that have led us to this point and they include the terrible recession, the worst since the great depression we went through. the fact that because congress wouldn't act, he apointed the commission and they delivered a report. we have the outside report. and we have the president's framework he put forward and the republican budget that passed the house, all of which describe a problem and a solution in generally the same terms. the big exception is three to one, they propose solutions that demand a balanced approach which the president supports. this is not the kind of situation that comes around very frequently and the president believes that it is worth the inevitable political difficulty making tough choices creates to get this done for the american people, for the american economy. so he does not share the view, does not believe it is wise to pursue a short-term solution that essentially would be kicking the can
. there's supposedly meetings between the white house and senate and big game players later this beak. in erms the of a deal we're getting a real date, not necessarily august 2nd, but july 22nd. why? there's a ten-day period needed for the congressional budget office to score any type of compromise as well as you're going to have to sell this compromise to the members. house republicans have been steadfast they don't want any tax increases to consider any type of compromise. speaker boehner needs some time to sell that to his members. >> you're talking about political high ground. you're not talking about the substance. i want to ask you about libya. there is a procedural vote the first step on the kerry-minnesota cane resolution on libya what do you see there? >> it's around 5:30 p.m. today. it really is a procedural vote on the mccain-kerry libya resolution which says for one year the u.s. should allow -- there should be force in libya, u.s. backed force with no ground troops. to one democratic aide said they really don't know how this vote the going to come come out. there is specu
we have to learn the harsh lesson that when we are in an economic free fall, the only entity big enough to pull us out is the collective organization of our government? that is the only place that has the muscle to prevent a recession from turning into a depression, and the balanced budget amendment our colleagues cept us before would absolutely lock down the federal government's ability to respond. that would be a profound mistake, and contradict all we have learned in economics since the great depression. this is what norm ann ornstein at the american enterprise institute said about this constitutional amendment. he called it 5, quote, "really dumb idea." this is what he said. "few ideas are more seductive on the surface and more destructive in reality than a balanced budget amendment. here's why -- nearly all of our states have balanced budget requirements. that means when the economy slows, states are forced to raise taxes or slash spending at just the wrong time, providing a fiscal drag when what is needed is countercyclical policy to stimulate the economy. in fact, the fisc
and echoing my call to end subsidies for big oil. it's a call that received a bipartisan vote here in the sete, a bipartisan majority vote here in the senate, but, of course, did not pass. did not as if because of our colleaguescolleagues' insistenca filister for a supermajority amount. but it's time that our friends on the other side of the aisle put the interests of taxpayers ahead of big oil and allow these wasteful subsidies to finally end. as the president said, we have strategies to reduce the deficit. like my legislation to cut oil subsidies that are already introduced and ready to go. and all we have to do is pass it. and a vote to allow that to happen is a simple choice for everyone in this chamber. are you on the side of working-class families and seniors? or are you on the side of big oil? now, there are lots of ways to cut the deficit, but saving taxpayer subsidies for big oil while ending medicare as wenow it and cutting student loans is not, in my mind, a solution. it makes no sense, mr. president, to give a taxpayer h. funde of it funded o the big five oil companies earning huge
do if they had a lot of time. they don't have a lot of time right now. >> that's the big question and the big factor at the center of all of this. they don't have a lot of time and they need to move both of these through both chambers of congress and somehow reconcile them, how they're going to do that. >> let me go back to the white house. it looks like these two plans, they're obviously a senate plan by majority leader harry reid and house plan by speaker john boehner. does the white house feel sidelined or left out of thf process? >> i had this question, too, and i talked with one official who said the president can't be sidelined. he is the president. he has the power of the veto pen. he's the one who says ultimately if something moves. although inthe thought is if he was given a plan that could get through congress, i think the thought is how could he do anything but sign it? but certainly the president and the white house have been very much in touch with senate democrats and the roll right now is that senate majority leader harry reid is pretty much the president's lifeline
the democrats point of view, no tax hikes as well. >> that's the big sacrifice? one of their big cuts is a trillion dollars out of the defense budget because they figured out that the iraq war is winding down so afghanistan is also winding down and that's the trillion dollars they thought they'd save but they don't list anything with the harry reid plan and not to look at entitlements, how could you possibly say we're taking a hard look and making tough decision abouts the future of our -- of the country economically and not look at entitlements when even the president of the united states has had a problem. let's look at john boehner. he says, all right, i'll raise the debt ceiling. this is what i mean by a two phased plan. just a trillion dollars and we'll have $1.2 trillion in cuts by the end of the year. the future cuts will be commissioned and sent up after they commission a bipartisan panel to decide, you know, republicans or democrats to decide which will be cut and what shouldn't. >> and apparently, it would be along the lines of the cut, cap and balance as you can see right t
of $26.5 billion, the highest total since 1981. the cost of regulations is a big obstacle for american job creators. but when you think about regulations, here are an example of some of the once that can make you laugh. the department of energy requires microwaive makers to measure the amount of energy their products use in the off position. the environmental protection agency wants stricter regulations on the amount of dust on american farms. the department of interior wants to impose a fee on christmas tree sales to promote christmas tree sales. when you think about how government regulations destroy american jobs, these are the statistics that will make you cry. according to a louisiana state university professor, the department of interior's defacto moratorium of exploration in the gulf of mexico could cost $36,1 -- 36,137 jobs. in addition, more than 80,000 jobs could be lost due to the e.p.a. regulations targeting the cement industry. and e.p.a. gas regulations could cost $1 -- 1.4 million jobs. the american people place an upper limit on the damage that washington democrats coul
depends on how big it it is then when it goes back to the house. >> is there enough time to get it together and actually pass something? >> you know, i think there is in washington time. it doesn't look like there is because of how slow things typically move, but this is very, very real, and when you're scheduling 1:00 a.m. cloture votes, they know the time is ticking. it's 85 hours and counting, and you know, they're going to have to get a deal because they see the consequences, not only economically, but politically. >> okay. as ridiculous as this may sound to some, was there ever a possibility about like a one-page document simply raising the debt ceiling and then dealing with the rest of this stuff when we don't have this, you know, deadline hanging over our heads of august 2nd? >> that's what the house republicans and sort of the tea party caucus would not go along with. remember, that was president obama's original position, raise the debt ceiling separate and then we'll deal with spending cuts later. but that is not being allowed by many in the tea party caucus because fr
son would have killed himself rather than slaughter dozens of people. >>> bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! >>> the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the president and the speaker of the house. their parties are desperately divided and you and i are about to pay the price. we are covering all of the angles from wall street to the white house. ali velshi getting really creative and looking at the cost americans could face even before time officially runs out. of course, dan lothian with the politics and the posturing. ali, let's start with you. the markets open this hour, okay? how is the debt issue going to impact things today and the rest of the week? i know yesterday, you kept saying give me a little more time and i'll let you know when to worry but how many times can we say that? we are not worried yet. we are wat
. [ jack ] yeah, ts is pretty good. don't you have a big race today? don't worry, kevin, i've got it all covered. (cheering crowd) track announcer: and jamie mcmurray wins the brickyard 400. how'd we do? announcer: check out huge clearance savings at bass pro shops and our upcoming fall hunting classic. he was all like "oh no, i cannot do investing." next thing you know he's got a stunning portfolio. shhhh, you're welcome. [ male announcer ] e-trade. investing unleashed. >> all right. glad you're up. the debt ceiling deadline quickly approaching. we're less than one week away from possible default. so how will washington come together on a solution before tuesday's deadline? will they at all? former advisor to president bill clinton and author of "revolt" dick morris now joins us. dick, i know you have a lot to say about this and how this is all playing out. first off, as for the president, is this drama working for him? >> no. no, it's working against him. ultimately, whenever washington is a mess, it's the president that gets blamed for it. now, of course, republicans in congress get
at the white house that there shouldn't be another vote. that should wait until 2013. is that the big stumbling block right now? >>> senator reid said he clearly does not agree with boehner's approach. >> there are similarities, though.. >> some of the spending cuts, not all. both have this congressional committee that's going to be charge the with trying to identify deficit reduction. you can see how there could be conner tos. eric cantor, speaker boehner, other republican leaders have said frequently through this whole process, they do not think we should extend the debt ceiling. what we need to do is come together, compromise, get us through this period of imminent price sis where we don't want the country to default and then let's move on first of all to focus on the economy and jobs, but finish the job of deficit reduction in months ahead. the speaker of the house john boehner and the president are having very, very, i think, productive discussions about areas of potential common ground and we hope some of that work will provide the foundation for what congress does down the road here. >>
is not for light or transient reasons. it's a big, big deal when the united states government has been for months and will continue to be borrowing about 40% of every dollar we spend, running up the largest deficits the nation has ever seen. and so what the law says, that -- the law and the united states code says you should have a budget. and when you set a budget, you take all of the bills that are out there and tell them how much money they have to spend so your total amount of money at the end does not exceed a dangerous level for the c. that's whac -- for the country. that's what a budget does. and so we're going to seek and repeatedly call to this senate's attention that we got the cart before the horse. we're spending money without a budget and we're going to have to have a budget, else we are not in control of our spending. and once you have a budget, it takes 60 votes to violate the budget. you can kind of stick to it if you make up your mind to do so. and we don't have to violate it and burst the budget. so that's -- that's what we're talking about today and it's a matter of great serio
while i appreciate your reassurance, it's somewhat like you said, mr. gruenberg, about the too big to fail in response to mr. corker. we're waiting for the evidence that something is different in regard to those community banks. and so in particular, i want to -- and i certainly agree with you that the fdic insurance issues that you raise, i think are a positive development. but let me particularly raise with you the disparate treatment of capital standards between community banks and large financial institutions. the definition of well capitalized seems to have a different definition in regard to whether or not you're a large or small bank. and many of our community banks are being regulated in which they are required to have a much higher percentage of capital than our smaller banks -- i'm sorry, than our larger banks many of which those larger banks are under regulatory restrictions as a result of their financial condition. so my point is there's a double standard in my view between the capital requirements that small banks, community banks are required to have and that of large
: we have to look at the overall big picture. there are going to be times -- you can only spend more than you make for so long and it catches up to you and that is what is happening right now the bank there going to be situations, i imagine, with the federal government has to take out loans and borrow money. but this has been going on for years and years and years. and you cannot continue to do this. if we do not get our fiscal house in order, get our credit -- that our creditors will take control and do it for us. i am not sure that we want that. host: we of gone from a trillion dollar debt to $14 trillion, but is there good debt for the government? someone argues that student loans and mortgages are good debt, and bad debt would be loans for vacations or fancy cars. guest: i do not think any debt is good. it is probably a more acceptable form of debt. but again, i say that there are probably going to be instances, but the problem is when it becomes everything that you -- when you have so much debt that it is overwhelming to everything else, when you have more debt if you can pay. a
's no symptom of big government more menacing than our debt. break its grip, and we begin to liberate our economy and our future. >> i'm asking you all to make your voice heard. if you want a balanced approach to reducing the deficit, let your member of congress know. >> reporter: enough people did, presumably supporters as well as opponents, that the speaker's web site crashed along with those of a couple of other republicans and at least one democrat. republicans say the president wants a long-term debt ceiling hike to keep it out of his re-election bid. democrats say the bond rating agencies want a long-term hike. a short-term one, they say, would risk a downgrade of this country's credit rating, and that would hike credit interest rates on everyone. jon: the overwhelming number of calls coming into senate offices are urging members to oppose the president's call for tax increases, so we'll see. wendall goler, thank you. jenna: for more on this developing story, we're joined by a congressman who says both sides are responsible for the mess we're in. congressman bill pascal of new jerse
's also about whether or not the big rating agencies decide to downgrade the stellar aaa credit rating of this country. even if that happens, this is why it matters to you. let's start with your home. most people's biggest investment, what is likely going to happen in the case of default certainly and even in a downgrade is your mortgage rate is going to go up. experts say this isn't just a temporary issue. mortgage rates will go up for a significantly long period of time. that's going to affect you, more houses sit on the market, prices fall further. this hurts the already weak housing market. let's transition to college. your college loan, your savings for college. similar story. the interest rate on private college loans is going to go up, it's going to be harder for folks to necessarily get credit if credit starts to freeze. the only sort of silver lining to this is that a lot of people do have their student loans lined up for at least the next term. it also affects your car. if you have a car payment, and it's very similar to your mortgage payment, when you talk about your car, in
forendf yesterday calling and echoing my call to end subsidies for big oil. it is they call it received a bipartisan vote here in the bipj senate, a bipartisan majority vote here in the senate, but of course did not pass because of mar colleagues insistence on a r filibuster or a supermajority ie the.put the but it is time for our friends on the other side of the aisle put the interest of taxpayers ahead of big oil and allow these wasteful subsidies to finally end. as the president said, we have t strategies to reduce the deficit like my legislation to cut oil a subsidies thatdy are already introduced and ready to go now we have to do is pass it. a vote to allow that to happeneo is a simple choicene for everyod in this chamber. are you on the side ofn working-class families and o seniors or aren't you on theefit side of b,ig oil? saving now, they're lots of ways to cur the deficit, but saving taxpayer subsidies for big oil while anda medicare is not in my mind a solution. it makes no sense, mr. president to get a taxpayer-funded subsidb to the big five oil companies ol earning $12 billi
of the big package. we think that estimate was given in 2009 and the authors of the estimate think that its low, and we are very concerned that it's going to be much higher than that and we will continue to get much higher than that. and obviously the collection the states and governments that rely on the revenue, but those folks in those little towns across the country that are trying to make a living selling to the people in their community that have an automatic six to 8% price disadvantage simply because the truck is driving out hundred and of packages is having a devastating effect on small and medium-size retailers. i get we too many telephone calls from the country that are in their view being killed by that price differential. >> he raises the point some of the leading proponents of applying the sales tax online or wal-mart and target national retailers who have also been blamed by small retailers for price pressures and that sort of thing. how would you respond to that? >> they are major proponents of this, but they are not alone. i spend a lot of time talking to the after market a
, but it means, mr. president, that we can't be raising taxes on the job creators, and there is a big debate right now about how do we get ourselves out of this fiscal mess. i would submit to my colleagues that the real issue here is spending. if you go back to the foundation of our country, the year 1800, we were only spending 2% of our entire economic output on the government, the federal government. this year we're going to spend 24% to 25%. the historical average over the past 40 years is about 20.6%. we are dramatically higher in terms of what we are spending on our federal government as a percentage of our entire economy. to me, clearly, we don't have a revenue issue here in washington. we have a spending issue. which would suggest that we ought to get after spending, after federal spending, particularly spending that is -- is duplicative, redundant, there are so many things in the federal government that we spend money on that we need to get that waste and that -- and all those types of wasteful spending out of our spending here in washington, d.c., but we also have to focus on those
Search Results 0 to 49 of about 131 (some duplicates have been removed)